Saturn Payments Get OK
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COLUMBIA, Tenn. — General Motors will make a series of multimillion-dollar payments in lieu of property taxes on its proposed $3.5 billion Saturn auto plant in Spring Hill, officials said Thursday.
The agreement clears the way for construction of the auto-assembly, parts plants and foundries, which Spring Hill officials threatened to block if the payments were not to their liking.
It was approved by the Maury County Commission’s budget committee with full commission consideration planned later.
Spring Hill will get $250,000 a year. Columbia, the county seat, will receive $600,000 in each of the first through third years, $500,000 in the fourth through 10th years, $100,000 in each of the 11th through 20th years and $50,000 annually for the remainder of the agreement.
In addition, there will be $1.7 million for improvements such as streets and highways.
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